Money Management and my 8 Year old...Help?

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Money Management and my 8 Year old...Help?

Posted on May 07, 2013
related tags: Balance Family, Single Mom

Okay, this is more of a "please help me" post as it is my opinion on a topic. My son will be 9 this summer, and after two years of living with my parents, a move that while strategic, has also given me heartburn, we are moving into our own home! With this comes New Rules, Chores, etc. 

My son has been babied - I will be the first to admit, by me, my parents and a few of his relatives. He is the child of divorce and I moved him off the grid when he was 7 years old. But, ok - we've been here for two years and we need some rules. He has a piggy bank...and savings bonds. 

How do I teach him about managing the money he has received for birthdays, holidays and good grades? He wants to buys toys and video games, ALL THE TIME! How do I talk to him about while we live comfortably, we can't always spend our money on wants...we have to save for a rainy day. 

Any recommendations for websites, books, programs, etc. will be greatly appreciated!

 

Thanks,

RABIAH

comments (1)

It's important that you

apolsasam's picture
by apolsasam on May 08, 2013
It's important that you maintain an open communication with your child. At 9 years old the child already has concrete understanding about the world, it's nice if you try to let him see an eye-opening documentary or let him see the film "Pursuit of Happyness." - Casa Sandoval
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